2024 ains 101 exam new - Study guides, Class notes & Summaries

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. De...

AINS 101 Exam Questions and Answers- Updated 2024 One of the reasons for insurance regulation is to prevent destructive competition. In which one of the following scenarios would destructive competition be exhibited? - Answer-East Insurance comes up with a new rate structure allowing "preferred customers" discounted policies when they continually renew year after year; East eventually loses needed revenue but is rewarded by its competitors leaving the market. Ling has noticed that h...

AINS 101 Simulated Exam With 100% Correct Answers 2024 For a loss exposure to be ideally insurable it must be definite in (3 things) - answertime, cause, location The two main sectors of the insurance industry are - answerP/C and life-health Rachel is a new employee of Westley Insurance, and has been asked to review some existing policies to become familiar with the types of policies she will be working with. Which one of the following will Rachel find is true as she conducts her review? ...

AINS 101 Simulated Exam With 100% Correct Answers 2024 For a loss exposure to be ideally insurable it must be definite in (3 things) - answertime, cause, location The two main sectors of the insurance industry are - answerP/C and life-health Rachel is a new employee of Westley Insurance, and has been asked to review some existing policies to become familiar with the types of policies she will be working with. Which one of the following will Rachel find is true as she conducts her review? ...

AINS 101 EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) AGRADE 2024 ACTUAL EXAM Which one of these is most directly associated with a satisfied customer? - ANS-Leads and referrals that can be used to generate new business The two main sectors of the insurance industry are - ANS-Property-casualty insurance and life-health insurance. Joe and Helene are married with two teenage children and two dogs. They own three cars and a large house with a swimming pool in the back...

AINS 101 Simulated Exam With 100% Correct Answers 2024 Exclusive agency is contracted to sell insurance for one insurer or group of insurers - answerThe difference between an independent agency and an exclusive agency is that an Insurance shortages - answerDestructive competition in the insurance industry could result in Veronica directly contacts Maria for guidance on how to report a stolen car, Maria provides that, and claims rep Sean takes over after an introduction from Maria - answerM...

AINS 101 Exam Questions and Answers – Updated Which one of the following best explains why producers should be alert to changes in clients' loss exposures? A. Implemented risk management techniques may prove to be ineffective or become obsolete. B. Knowledge of such changes will inform their efforts to create a list of experts that can be called to assist. C. Producers can aid clients in developing risk management cost allocation plans. D. Producers have expertise about risk financi...

AINS 101 Exam Questions & Answers | 100% Correct Answers | Verified | Latest 2024 Version The two main sectors of the insurance industry are Property-casualty insurance and life-health insurance. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a Contract of utmost good faith. Earned premiums are shown on an insurer's income statement because they are Revenues Destructive...

AINS 101 EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) AGRADE 2024 ACTUAL EXAM Which one of these is most directly associated with a satisfied customer? - ANS-Leads and referrals that can be used to generate new business The two main sectors of the insurance industry are - ANS-Property-casualty insurance and life-health insurance. Joe and Helene are married with two teenage children and two dogs. They own three cars and a large house with a swimming pool in the back...

Ains 101 Exam Questions and Answers – Updated 2024 As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point? - Answer- When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing it. Which one of the following represents uncertainty about outcomes t...